Dust Protocol

Halal Rating :
Comfortable
Last Price $0.14 Last updated:
Rank 1638
1D Change -7.36 %
Market Cap $2.76m
Circulating supply 19,143,962
Maximum supply None

Crypto Overview

Categories
  • Collectibles & NFTs
  • Solana Ecosystem

Project Overview

Dust Protocol is a decentralized finance (DeFi) protocol built on the Solana blockchain that aims to provide liquidity and trading solutions for so-called 'dust' tokens - small residual amounts of cryptocurrencies left after trades. The protocol includes features for aggregating and managing these small token amounts efficiently.

Intended Utility

The protocol's stated purpose is to solve the common problem of accumulated dust tokens by providing tools to aggregate, trade, and manage these small balances efficiently. The DUST token serves as the protocol's governance token, allowing holders to participate in decision-making regarding protocol parameters and development.

Actual Implementation and Usage

On-chain analysis shows the protocol has achieved limited adoption, with most activity centered around token trading rather than its core dust management utility. Development activity appears sporadic based on public GitHub repositories.

Token Distribution and Governance

The token distribution shows a relatively concentrated holding pattern, with significant portions allocated to the team and early investors. There are vesting schedules in place, though detailed information about these arrangements is limited. The governance mechanism is technically implemented but shows low participation rates.

Technical Infrastructure

The protocol operates on Solana's infrastructure, utilizing smart contracts for dust token management and trading functions. The technical implementation appears sound, though documentation is somewhat limited.

Crypto Impact

To assign a comfort level investing in Dust Protocol from a halal perspective we need to determine whether it has a net positive or negative impact.

Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Dust Protocol.

If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.

We will review your contribution for accuracy before publication.

Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.

You only have one vote per asset so use it wisely.

You can change your vote if you change your mind.

Justification for our Halal Rating